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Pension economics has traditionally guided pension policy with the help of formal models based on individuals who think in a life cycle context with perfect foresight, full information, and in a time-consistent manner. This paper sheds light on selected aspects of pension economics when these...
Persistent link: https://www.econbiz.de/10011688738
We propose a unified framework to measure the effects of different reforms of the pension system on retirement ages and macroeconomic indicators in the face of demographic change. A rich overlapping generations (OLG) model is built and endogenous retirement decisions are explicitly modeled...
Persistent link: https://www.econbiz.de/10011892406
Population aging has forced policy makers in most developed countries to reform pension systems with the aim of maintaining or re-establishing financial sustainability. This usually involves cost-cutting measures like later pension eligibility ages and lower replacement rates. Such reforms face...
Persistent link: https://www.econbiz.de/10015181979
This paper focuses on the empirically observed relationship between demographic change and inflation and explores the theoretical nature of the puzzling link between the two. It puts the existent disparate empirical findings in the literature into perspective by formalizing an...
Persistent link: https://www.econbiz.de/10012099076
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German pension policy faces a dilemma. If it is too generous, it harms contributors, disincentivises labour supply, and crowds out education and infrastructure investment needed to pay for social protection. If it is too frugal, it harms those with social and health issues. Thus, smart...
Persistent link: https://www.econbiz.de/10014484315
Der Finanzwissenschaftliche Ausschuss des Vereins für Socialpolitik hat in seiner Arbeitstagung 2001 die finanzpolitischen Ansatzpunkte zur Behebung von Arbeitsmarktproblemen diskutiert. Der Tagungsband enthält die drei Grundsatzreferate von Axel Börsch-Supan (Universität Mannheim),...
Persistent link: https://www.econbiz.de/10014492856